EX-99.1CHARTER 2 k8ex1220.txt EXHIBIT DETAILING EXTENSION EXHIBIT 99.1 CLEAR CHANNEL COMMUNICATIONS, INC. EXTENDS EXCHANGE OFFER FOR EURO 650,000,000 NOTES DUE 2005 San Antonio, Texas, December 20, 2000 - Clear Channel Communications, Inc. (the "Company") has extended its offer to exchange Euro 650,000,000 6.50% Notes due 2005 issued by the Company in July 2000 (the "Existing Notes") for 6.50% Notes due 2005 which have been registered with the U.S. Securities and Exchange Commission (the "Exchange Offer"). The Exchange Offer commenced on November 13, 2000 and has been extended to expire at 5:00 p.m., New York City time on January 12, 2001. All Existing Notes that are validly tendered and not validly withdrawn will be exchanged. Holders may withdraw the tender of their Existing Notes at any time prior to 5:00 p.m., New York City time on January 12, 2001. To tender their Existing Notes in the Exchange Offer, holders thereof which are direct or indirect participants in the Depository Trust Company, Euroclear or Clearstream, Luxembourg must transmit to The Bank of New York, as exchange agent on or prior to January 12, 2001, either a properly completed and executed Letter of Transmittal or a computer generated message forming a part of confirmation of DTC, Euroclear or Clearstream, Luxembourg book-entry transfer in which they acknowledge and agree to be bound by the terms of the Letter of Transmittal. Copies of the Exchange Offer Prospectus, dated November 9, 2000, the Letter of Transmittal and all other documents pertinent to the Exchange Offer may be obtained from the exchange agent at the following addresses: The Bank of New York The Bank of New York 101 Barclay Street 30 Cannon Street New York, New York 10286 London EC4M 6XH Attention: Santino Ginocchietti Attention: Linda Read or Emma Wilkes Tel: (212) 815-6331 Tel: (44 171) 893-7284 Fax: (212) 815-6339 Fax: (44 171) 893-6369